CAMBRIDGE, Mass. — Information security spending has fallen over the past year, but its importance has not similarly declined, according to a new report.
Chief information officers (CIOs) said they would spend 7.75% of their IT budgets on security this year, compared with 8.92% last year, according to the Forrester Research report, "The State of Information Security Spending."
The report, based on a survey of CIOs at organizations across North America and Europe, noted that despite the decline in spending, IT security remains a major focus, with 63% of the respondents saying that upgrading their security infrastructure was either a priority or critical priority this year.
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"Today, CISOs [chief information security officers] are struggling to quantify and justify the benefits of security spending at time when management expectations are increasing," says the author of the report, Forrester analyst Khalid Kark.
"To cope, security managers need to revisit their spending habits and endeavor to spend proportionately on people, process and technology," Kark says. "They must also understand that compliance may not always equal security."
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